WS Ind to set up Rs 100 cr plant
Chennai-based WS Industries India Ltd on Thursday announced it will set up a Rs 100 crore second manufacturing plant in alliance with global major PPC Insulators, having its presence in the US and Europe.
By PTI |
MUMBAI: Chennai-based WS Industries India Ltd on Thursday announced it will set up a Rs 100 crore second manufacturing plant in alliance with global major PPC Insulators, having its presence in the US and Europe.
Being partly funded by Schroder Credit Renaissance Fund Ltd & Schroder Credit Renaissance Fund LP, the new plant will push the present capacity by 60 per cent, the company engaged in manufacturing electrical equipment, informed the stock exchanges.
"The capacity expansions both brown and green field, are being done to cater to the strong demand for porcelain insulators both in India and overseas," Murali Venkatraman, Vice Chairman of the company said.
"The global market is witnessing strong growth, thanks to the rapidly expanding demand for electricity especially in China and parts of South America. Consequently, there is a ripple down requirement for new generation plants, transmission and distribution lines and substations," he added.
WSI is committing itself to greater global market participation in partnership with PPC. The WSI-PPC partnership is a win-win proposition which will integrate PPC s advanced technology and marketing strengths with the experience and economic production capabilities of WS," Narayan Sethuramon, Managing Director of the company said.
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The new plant, having a strategic technology and marketing alliance with PPC Insulators, will be fully operational by April 2008 with output of 8,000 MT per year.Start a SIP with as low as ₹500 with ET Money App!
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